Vaalco Energy (NYSE:EGY) Shares Gap Down After Earnings Miss

Vaalco Energy Inc (NYSE:EGY)’s stock price gapped down before the market opened on Friday following a dissappointing earnings announcement. The stock had previously closed at $5.64, but opened at $5.20. Vaalco Energy shares last traded at $5.1960, with a volume of 634,388 shares.

The energy company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). The company had revenue of $91.04 million for the quarter, compared to analysts’ expectations of $76.30 million. Vaalco Energy had a net margin of 7.40% and a return on equity of 1.02%.

Vaalco Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, February 27th will be issued a dividend of $0.0625 per share. This represents a $0.25 annualized dividend and a yield of 4.8%. The ex-dividend date is Friday, February 27th. Vaalco Energy’s dividend payout ratio is presently 92.59%.

Wall Street Analyst Weigh In

EGY has been the subject of several recent analyst reports. Loop Capital set a $7.30 price objective on shares of Vaalco Energy in a research note on Friday, January 16th. Wall Street Zen raised shares of Vaalco Energy from a “sell” rating to a “hold” rating in a research note on Sunday, January 18th. Zacks Research lowered shares of Vaalco Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. Finally, Weiss Ratings raised shares of Vaalco Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, January 13th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $7.30.

Institutional Investors Weigh In On Vaalco Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Vaalco Energy by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,093,682 shares of the energy company’s stock valued at $28,517,000 after acquiring an additional 81,203 shares during the period. American Century Companies Inc. increased its stake in Vaalco Energy by 7.2% in the third quarter. American Century Companies Inc. now owns 4,740,856 shares of the energy company’s stock worth $19,058,000 after purchasing an additional 316,570 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Vaalco Energy by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 3,731,588 shares of the energy company’s stock worth $15,001,000 after purchasing an additional 62,474 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in shares of Vaalco Energy by 0.9% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 3,228,660 shares of the energy company’s stock valued at $11,752,000 after purchasing an additional 28,645 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Vaalco Energy by 5.8% during the second quarter. Geode Capital Management LLC now owns 2,943,706 shares of the energy company’s stock valued at $10,629,000 after purchasing an additional 162,023 shares during the period. 50.32% of the stock is owned by institutional investors.

Vaalco Energy Trading Down 7.2%

The stock’s fifty day moving average price is $4.77 and its 200 day moving average price is $4.13. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.05 and a quick ratio of 0.99. The stock has a market capitalization of $545.80 million, a P/E ratio of 19.39 and a beta of 0.21.

Vaalco Energy Company Profile

Vaalco Energy, Inc is an independent energy company principally engaged in the exploration, development and production of crude oil and natural gas. Headquartered in Houston, Texas, Vaalco concentrates on offshore assets in West Africa, with a strategic emphasis on maintaining and optimizing cash-flow–generating properties. Founded in the mid-1980s, the company has built its reputation by focusing on high-impact drilling prospects and extending the productive life of its core fields through targeted infill wells and enhanced recovery techniques.

The company’s primary producing asset is the Etame Marin block offshore Gabon, where Vaalco holds a majority interest and serves as operator.